Sensex, Nifty scale new peaks on positive macro data, earnings

The benchmark Sensex zoomed over 209 points to scale new peak of 34,801.74 points on the back of positive macro-economic data and encouraging corporate earnings amid gains in other Asian markets.

The broader NSE Nifty also soared to a new high of 10,733.40 by gaining 52.15 points or 0.48 %. It broke its previous intra-day record of 10,690.40 hit on January 12.

The 30-share Sensex gained 209.35 points, or 0.60 %, to touch an all-time high of 34,801.74, surpassing previous record of 34,638.42 (intra-day) reached on January 12.

Reflecting the bullish mood, all the sectoral indices, led by realty, banking and power were trading in the positive zone with gains up to 1.01 %.

Brokers said buying activity picked up momentum on positive economic data as industrial production growth in November zoomed to a 17-month high of 8.4 % on the back of robust performance of manufacturing and capital goods sectors.

Shares of Infosys, India’s second largest IT exporter, was trading higher by 0.33 % at Rs 1,082, reacting to Q3 earnings.

The IT major on Friday reported a 38.3 % growth in consolidated net profit at Rs 5,129 crore for the October- December quarter and maintained its FY 2017-18 sales growth outlook at 5.5-6.5 % in constant currency terms.

Other prominent gainers that lifted the key indices to new highs include ICICI Bank, Tata Steel, HDFC Ltd, SBI, Power Grid, Reliance Industries, Wipro, NTPC, M&M, TCS, ITC Ltd, Coal India and Tata Motors, gaining up to 3.42 %.

Among other Asian markets, Japan’s Nikkei rose 0.23 % while Hong Kong’s Hang Seng was up 0.59 % in early trade. China’s Shanghai Composite index, however, was down 0.05 %.

The US Dow Jones Industrial Average closed at new high by surging 0.89 % in Friday’s trade.